CMS

Lima, 28 de agosto de 2025 - CMS Grau asesoró a Colbún Perú S.A. (“Colbún Perú”), subsidiaria de Colbún S.A. (“Colbún”) en la adquisición de la participación indirecta de Platinum Bolt A 2015 RSC Limited (“Platinum Bolt”) en Fénix Power Perú S.A. (“Fénix”), a través de la adquisición del 41.38% de las acciones emitidas por Inversiones de Las Canteras S.A. (“Las Canteras”). De esta manera, Colbún Perú se convirtió en titular de la totalidad de acciones emitidas por Las Canteras; y, por lo tanto, controlador absoluto de Fénix. El valor de la transacción superó los US$ 70 millones. Fénix es uno de los principales generadores del mercado eléctrico peruano, con una participación de alrededor del 8%. Su central termoeléctrica es la única de ciclo combinado dual en Perú (gas natural y vapor de agua) y tiene una potencia instalada de 572 MW. Colbún es una empresa generadora con 39 años de experiencia, siendo el tercer mayor operador eléctrico en el mercado chileno, con una cartera de más de 350 clientes industriales y empresas, cerca de 1.300 trabajadores y una potencia instalada de más 5.000 MW a través de 29 centrales de generación en Chile y Perú. El cierre de la operación se produjo el pasado 21 de agosto de 2025. Asesores Legales Externos de Colbún: CMS Grau: Socios Juan Carlos Escudero y Miguel Viale; y, equipo conformado por Cinthia Cánepa y Pablo Martínez. Barros & Errázuriz: Fernando Garrido. Asesores Legales Internos de Colbún: Rodrigo Pérez y Verónica Vergara. Asesores Legales Externos de Platinum Bolt: Rebaza, Alcázar y de las Casas: Socio Luis Miguel Elías y equipo conformado por Rafael Santín y Derek Ortmann. Linklaters: Socio Rupert Cheyne y Maxi Niefer. Lima, August 28, 2025 - CMS Grau advised Colbún Perú S.A. (“Colbún Perú”), subsidiary of Colbún S.A. (“Colbún”) in the acquisition of Platinum Bolt A 2015 RSC Limited’s (“Platinum Bolt”) indirect participation in Fenix Power Perú S.A. (“Fenix”), through the acquisition of 41.38% of the shares issued by Inversiones de Las Canteras S.A. (“Las Canteras”). Thus, Colbún Perú has become the holder of all of Las Canteras’ equity shares and, as a consequence thereof, sole controller of Fénix. The transaction value exceeded US$70 million. Fenix is one of the main generators in the Peruvian energy market, with a share of approximately 8% of the market. Its thermoelectrical power plant is the only one with a dual combined cycle in Peru (natural gas and water steam) and has an installed capacity of 572 MW. Colbún is a power generation company with 39 years of experience. It is the third largest electricity operator in the Chilean market, with a portfolio of more than 350 industrial and corporate customers, nearly 1,300 employees and an installed capacity of over 5,000 MW across 29 power plants in Chile and Peru. The closing of the transaction occurred on August 21. External Legal Advisors for Colbún: CMS Grau: Partners Juan Carlos Escudero and Miguel Viale, and team composed of Cinthia Cánepa and Pablo Martínez. Barros & Errázuriz: Fernando Garrido. Internal Legal Advisors for Colbún: Rodrigo Pérez and Verónica Vergara. External Legal Advisors for Platinum Bolt: Rebaza, Alcázar y de las Casas: Partner Luis Miguel Elías, and team composed of Rafael Santín and Derek Ortmann. Linklaters: Partner Rupert Cheyne y Maxi Niefer.

Lima, June 2025. - CMS Grau announces the appointment of Julio Vidal as a new partner, along with Evelyn Román, Tais Rabanal, and Fernanda Paz as associates in the Infrastructure and Projects practice area. This strategic move brings key talent to one of the most renowned legal teams in the Peruvian market, responding to the growing demand for specialised advisory services in complex projects across sectors such as transport, healthcare, urban infrastructure, and sanitation (drinking water and sewage). The department consolidates its preventive and multidisciplinary approach, integrating professionals with outstanding experience in the design, structuring, transactions, regulation, financing, and execution of public and private investment projects. "This appointment marks a key milestone in our firm's evolution. Infrastructure project development is one of the main drivers of the country’s economic growth, and we aim to continue supporting our clients through the challenges posed by the new cycle of public and private investment in Peru," said Rolando Cevasco, Managing Partner of CMS Grau. Julio Vidal brings over 25 years of experience advising public and private entities on Public-Private Partnerships (PPPs), Asset Projects, Works for Taxes schemes, and public services regulation, standing out for his leadership in promoting infrastructure projects through the Asset Projects mechanism. Evelyn Román, Tais Rabanal, and Fernanda Paz, in turn, contribute extensive expertise in regulatory consulting, administrative law, public management, and infrastructure project structuring within healthcare, transport, roads, and airports. All four lawyers join from Estudio Rubio, Leguía, Normand. "Our clients face increasingly complex projects with higher technical, contractual, and regulatory demands. This appointment responds to that reality. With Julio, Evelyn, Tais, and Fernanda, we enhance our ability to anticipate risks, devise agile solutions, and support each project phase with a sector-focused and comprehensive vision," said Giancarlo Villafranqui, partner in the Infrastructure and Projects practice at CMS Grau. The announcement comes at a pivotal moment for the country. Peru faces an infrastructure deficit exceeding USD 110 billion, according to the National Infrastructure Plan for Competitiveness, while PROINVERSIÓN plans to auction more than USD 8 billion in PPP projects in 2025, covering sanitation, healthcare, transport, and energy initiatives. In this scenario, specialised legal advisory services are crucial to ensure efficient, sustainable, and transparent processes. "Infrastructure must no longer be viewed solely as the execution of works; it requires intelligent, comprehensive legal design from inception, operation, and maintenance to contractual execution. We are joining CMS Grau to help ensure that our clients' projects develop with technical precision, sector-specific insight, and a practical approach—so projects are executed smoothly, without obstacles or delays. We believe our advisory services must go beyond legal aspects; they must be holistic. We must have the capability to lead and build multidisciplinary teams to support our clients throughout the entire project lifecycle (public or private), not only legally but also technically and financially," remarked partner Julio Vidal. The reactivation of the infrastructure sector in Peru, driven by the need to close gaps and undertake megaprojects, presents significant opportunities for investors and operators. CMS Grau aims to position itself as a strategic partner to tackle these challenges, offering legal advisory services with a preventive, holistic, and regional approach. More information on the new lawyers Julio Vidal is a lawyer from the Pontifical Catholic University of Peru (PUCP) with a Master’s degree in Finance and Corporate Law from ESAN, specialising in public services regulation. He has over 25 years of experience in the design and execution of infrastructure projects through Public-Private Partnerships (PPPs) and Asset Projects, both in the public and private sectors. He has led key regulatory processes in the sanitation sector, such as the Modernisation Law for Sanitation Services, and has participated in the legal structuring of initiatives in healthcare, transport, and urban services. His career combines regulatory vision with executive capability for large-scale projects. Evelyn Román is a lawyer from the PUCP with more than 12 years of experience advising on infrastructure projects nationwide. She has been involved in all stages of the project cycle—from design and structuring to financial closure and management—under schemes such as PPPs, Works for Taxes, and State Asset Projects. Her expertise has focused on initiatives in sanitation, healthcare, roads, airports, and environmental infrastructure. She has undertaken studies in infrastructure management at the Polytechnic University of Catalonia and public services regulation at the University of the Pacific. Tais Rabanal is a lawyer from the PUCP with experience in sectoral regulation, environmental law, and public management. She has worked on infrastructure projects with social and territorial impact, particularly within public procurement and services regulation. Her academic background and practical experience have enabled her to participate in private investment initiatives with a comprehensive perspective that integrates legal, regulatory, and environmental aspects. Fernanda Paz is a lawyer from the PUCP with specialised studies in Compliance. She has experience in legal advisory services for private investment projects, particularly through PPPs and State Asset Projects, as well as in public services regulation, real estate law, sanitation, public management, and general administrative law. She has advised national and international companies in the regulatory and contractual design of social and urban infrastructure initiatives.

In today’s increasingly demanding and dynamic business landscape, talking about emotions, mental health, and vulnerability remains a challenge. Responding to this need, Dione+ Podcast emerges as a new initiative led by CMS, aimed at opening up real conversations around leadership, organisational culture, and personal transformation across Latin America. The first episode, titled “Talking about mental health saves lives: here’s one”, features the powerful testimony of Álvaro F. Peña, Executive Vice President at APG Capital Investments. In an intimate conversation, Peña shares how prolonged stress and pressure led him into a deep personal crisis and how that pivotal moment pushed him to re-evaluate his life and his approach to leadership. “The aim of Dione+ is to build a community of leaders who are willing to show up with greater humanity and empathy. This podcast is a natural extension of that vision—an opportunity to amplify the voices that are honestly transforming business culture from within,” says Mauricio Gómez, Partner at CMS Mexico and Head of DEI for CMS Latin America. With a thoughtful and authentic approach, Dione+ Podcast positions itself as a space where topics such as inclusion, empathy and leadership are explored not through theory, but through real experiences of those driving change in their organisations. “Álvaro’s story is a powerful call to rethink how we experience leadership. As a firm, we believe that sharing these stories is part of our commitment to creating a more inclusive and conscious workplace,” adds Adriana Escobar, Partner at CMS Colombia and member of the regional DEI governance committee. Episodes will be available on platforms including Spotify, Apple Podcasts and YouTube. The series will feature guests from various countries and industries, addressing topics such as inclusive leadership, emotional wellbeing, cultural barriers, and best practices in corporate environments. More information: https://cms.law/en/per/podcasts/dionepodcast   - End - Contact: Jazmin Mateo Business Development Coordinator E [email protected]   Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that provides full-service legal advice. With 84 offices in over 49 countries and more than 6,800 lawyers worldwide, CMS has a solid track record of advising both in local jurisdictions and on cross-border matters. In Latin America, CMS has offices in Mexico, Colombia, Peru, Chile, and in Brazil through FAS Advogados in cooperation with CMS. The firm is known for its focus on innovation, sustainability, and the development of inclusive corporate cultures. CMS member firms offer a broad range of services across 19 areas of law and industry sectors, including: Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, Technology, Media & Communications (TMC), Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property, and Real Estate. For more information, visit cms.law

Lima, 6th may 2025 - CMS Grau advised Banco de Crédito del Perú (BCP) as lender in the structuring, negotiation and disbursement of a medium-term loan up to the sum of USD 22.5 million in favor of Megacentro Industriales Sur S.A.C. (Megacentro), which will be used to finance the construction and implementation of the fifth stage of the Megacentro III warehouse condominium, as well as to other corporate uses. The loan is backed by a package of guarantees, including a mortgage granted by Megacentro on a property of its own, as well as a trust. The closing of the transaction occurred on April 25, 2025, while the first disbursement of resources occurred on April 30, 2025. External Legal Advisors for BCP: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa, Gabriel Nájar and Valeria Mazuelos-Coello. Internal Legal Advisors for BCP: Melissa Calderón and Mariana Castro. External Legal Advisors for Megacentro: PPU: Antonio Guarniz, Mario Arce and Wandha Pichardo.   -----------------END-----------------   About CMS Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 81 offices in 45 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence, and long-term partnership to keep each client ahead in its chosen markets. CMS Grau is one of the foremost legal firms in Peru, boasting over 90 years of comprehensive legal advisory experience. According to Legal 500, CMS Grau ranks among the top 10 legal firms in the country. The firm is home to a team of specialised professionals who provide innovative solutions tailored to the needs of their clients. CMS Grau embraces a corporate culture that has adeptly adapted to the times, offering a broad spectrum of legal platforms and applications for its clients, taking into consideration their industry and jurisdiction. For more information, please visit cms.law

CMS has advised infrastructure investment fund manager VisionEdgeOne on the acquisition of Spanish bike-sharing company Inurba Mobility from Sherpa Capital and Moventia Group on behalf of the investors of its VisionEdgeOne Infrastructure Partnership platform. Launched in 2023, VisionEdgeOne’s strategy focuses on logistics, digital, energy transition, and urban sectors, aiming to identify, invest in, and deliver future infrastructure in a sustainable way. This acquisition will support Inurba Mobility’s expansion and growth in the European bike-sharing sector by winning new concessions with European cities looking to become more sustainable. CMS Corporate Partner Narinder Jugpal comments: “We are thrilled to have supported VisionEdgeOne on this milestone acquisition as it marks their first investment. The bike-sharing market is dynamic and growing, driven by ambitious sustainable mobility initiatives and a shift towards greener cities. We are confident that this acquisition will provide Inurba Mobility with the necessary backing to thrive and expand its reach to new cities looking to become more sustainable.” Adam Ringer, Head of Origination at VisionEdgeOne, adds: “Inurba Mobility operates in an exciting sector, successfully positioning itself as demand for affordable, healthy, and green transport options grows. We are extremely grateful to Narinder and the CMS team for their unwavering support throughout the process. Their expertise and deep knowledge have been invaluable in bringing this deal to a successful completion.” The CMS team was led by Narinder Jugpal and included Ben McParland, Diana Psyarenko, Amrit Duhra, Jason Todd and Rebecca Stewart (CMS UK), Luis Miguel de Dios and Luis Trigueros von Korff (CMS Spain), Thomas Hains, Mailys-Claire Diogo and Vincent Desbenoit (CMS France), Mateusz Stepien and Magdalena Zmyslowska (CMS Poland) and Juan José Hopkins and Andrea Paiba (CMS Peru). With 1,400 corporate lawyers in over 80 offices worldwide, of whom over 250 are based in the UK, the CMS Corporate practice has established itself as a leader in advising on strategic deals, high-profile transactions and mergers and acquisitions. ----------------END-----------------   For further information, please contact: Anne Moirez, Communications E: [email protected] T: +44 (0)20 7367 2186 Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 85 offices in over 45 countries across the world and more than 6,300 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

Lima, March 2025 – CMS Grau has announced the incorporation of six lawyers into its Real Estate & Construction practice, consolidating its experience and comprehensive advisory capacity. The team, coming from Rubio Leguía Normand, joins in a strategic move that highlights CMS Grau's leadership in the real estate market. Franco Soria and Pedro Pablo Castañeda join CMS Grau, raising the firm's total number of partners to 27. Both possess extensive technical knowledge and experience in the real estate sector, having participated in high-profile operations. "The addition of Franco and Pedro Pablo, who were previously part of CMS Grau, along with a solid team of associates, strengthens our ability to support our clients in large-scale projects. We have been offering comprehensive services for years and are pioneers in providing an integrated approach that combines legal and technical advisory services, a proposal that has become a market reference. In this context, where specialised planning and a multidisciplinary vision are key to the sector's development, this integration will allow us to continue supporting our clients with strategic and comprehensive solutions," said Rolando Cevasco, Managing Partner of CMS Grau. Alongside the two partners, associates Renzo López, Valeria Umeres, David Cox, and Santiago Méndez are also joining, consolidating a team of 11 lawyers specialised in real estate law, co-led by CMS Grau partner Carolina Gajate. Carolina is an expert in real estate and construction matters and previously led a team of four specialist associates: Gustavo Atarama, Carmen Assereto, Anai Salazar, and Alonso Maguiña. This integration positions the practice as one of the largest in the market, offering services ranging from the structuring of real estate projects to advisory on permits, licenses, and financing. Franco Soria commented: "I am excited to return to CMS Grau, a firm with which I share values and purpose. I know the firm and its commitment to doing things right. I am confident that together we will consolidate a differentiated value proposition for the real estate market at a key moment for the country's development." In recent years, the real estate and construction sector in Peru has undergone significant transformations. These changes are driven by the implementation of new regulatory frameworks for urban development projects, the promotion of state land auctions, and the adoption of advanced technologies aimed at improving project efficiency and sustainability. "This scenario requires specialised planning and comprehensive advisory services that enable clients to seize new market opportunities for the success of their projects, as well as address the challenges associated with urban regulations, sustainability, and project financing," commented Pedro Pablo Castañeda. In turn, Carolina Gajate, CMS Grau's Real Estate & Construction partner, added: "This synergy of an entire team of lawyers not only consolidates our real estate team in the market but also reaffirms CMS Grau's commitment to our clients, strengthens our responsiveness, and is part of our strategic growth, always for the benefit of our clients." CMS Grau has established itself as one of the country's most recognised law firms, offering a comprehensive range of transactional and non-transactional legal services. The firm continues to strengthen its presence in the main economic sectors, with an innovative approach and strategic support for its clients. About the New Partners With over 20 years of experience, Franco Soria specialises in real estate law, land regularisation, and the development of urban and rural projects. He has been a partner in the real estate and land regularisation area at Rubio Leguía Normand and CMS Grau, where he worked for almost eight years. He has also held key positions in the public sector, such as Director of the National Superintendence of State Property (SNB) and consultant at COFOPRI – the Peruvian Agency for the Formalisation of Informal Property. His career includes determining feasibility for the acquisition and regularisation of land needed for mining, energy, infrastructure, retail housing, telecommunications, and agribusiness projects in several of the country's major developments. He provides comprehensive advisory services that combine an integrated and strategic approach to ensure the feasibility and execution of real estate projects. Pedro Pablo Castañeda has over 15 years of experience specialising in real estate, registry, administrative, and arbitration law, as well as managing institutional relations with various public and private entities. He has led significant real estate projects in various sectors, including retail, mining, energy, and infrastructure, with a particular focus on obtaining licenses and permits for the development, construction, and operation of shopping centres and the retail sector in general. Before joining the firm, Pedro Pablo was a partner at Rubio Leguía Normand, Corporate Deputy Manager of Institutional Relations at Real Plaza shopping centre chain, and previously Senior Property Lawyer at Hochschild Mining and Associate at CMS Grau. He also has experience in the public sector, having worked at the National Superintendence of State Property (SBN). With the incorporation of these new professionals, CMS Grau's Real Estate practice consists of a legal team of 3 partners and 8 associates, along with a technical team of engineers and consultants, positioning it as one of the most robust and experienced practices in the market.

CMS Grau advised the Real Estate Investment Fund Sura Asset Management II (SURA) as the borrower of a medium-term loan,structured by Banco BTG Pactual S.A.: - Cayman Branch (BTG), intended for the refinancing of the fund's debts with third parties (the “Loan”). SURA is a real estate investment fund duly registered with the Public Registry of the Securities Market of the Superintendence of the Securities Market (SMV) under the General Regime, which was structured and is managed by Fondos Sura SAF S.A.C. The Loan will be backed by a package of guarantees, including a mortgage granted by SURA on a property it owns. The closing of the transaction took place on May 9, 2024, while the funds were disbursed by BTG in favor of SURA on May 15, 2024 and September 12, 2024. External Legal Advisors for SURA: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa and Gabriel Nájar. Internal Legal Advisors for BTG: Laura Teodoro, Karim Abuid, and Rosario Siu. External Legal Advisors for BTG: DLA Piper Peru: Partner Sergio Barboza, and team composed of Juan Carlos Ramírez, Ricardo Mercado, Alexandra del Río, and Ariana Villegas.  

CMS Grau advised the Real Estate Investment Fund Sura Asset Management II (SURA) as the borrower of a medium-term loan,structured by Banco BTG Pactual S.A.: - Cayman Branch (BTG), intended for the refinancing of the fund's debts with third parties (the “Loan”). SURA is a real estate investment fund duly registered with the Public Registry of the Securities Market of the Superintendence of the Securities Market (SMV) under the General Regime, which was structured and is managed by Fondos Sura SAF S.A.C. The Loan will be backed by a package of guarantees, including a mortgage granted by SURA on a property it owns. The closing of the transaction took place on May 9, 2024, while the funds were disbursed by BTG in favor of SURA on May 15, 2024 and September 12, 2024. External Legal Advisors for SURA: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa and Gabriel Nájar. Internal Legal Advisors for BTG: Laura Teodoro, Karim Abuid, and Rosario Siu. External Legal Advisors for BTG: DLA Piper Peru: Partner Sergio Barboza, and team composed of Juan Carlos Ramírez, Ricardo Mercado, Alexandra del Río, and Ariana Villegas.  

CMS Grau advised Banco Internacional del Perú S.A.A. (Interbank) as lender in the structuring, negotiation, and disbursement of a medium-term loan of up to S/ 80 million (the ‘Loan’) in favour of Tiendas Aruma S.A.C. (‘Aruma’), which will be used by Aruma for various corporate purposes. The loan is secured by a package of guarantees, including a trust agreement, with Interbank and BCP as trustees, Aruma as trustor, and La Fiduciaria S.A. as trustee, to which the collection rights and cash flows of certain shops operated by Aruma were transferred. The closing of the transaction and the disbursement of the funds was made on Thursday 29 August 2024. Aruma is part of Grupo Lindcorp and stands out as the first beauty store in Peru, with nearly 100 locations nationwide. This transaction is particularly significant for the group, as “it will boost Aruma's accelerated growth in this sector, creating professional growth opportunities for hundreds of women in the stores and energising formal retail” (Marco Pastor – CFO & Business Development Grupo Lindcorp). External Legal Advisors for Interbank: CMS Grau: Partner Juan José Hopkins and team composed by Cinthia Cánepa, Gabriel Nájar and Juan Andrés Carrera. Internal Legal Advisors for Interbank: Viviana Tapia and Mariano Chumpitaz. External Legal Advisors for Aruma: PPU: Partner Antonio Guarniz and team composed by Víctor Bravo and Daniela Fortón. Legal team of La Fiduciaria: Diego Uribe, Gabriela Soto and Valeria Falla.